16 Which of the following statements about accounting concepts and conventions are correct?(1) The entity concept requires that a business is treated as being separate from its owners.(2) The use of historical cost accounting tends to understate assets and profit when prices are rising.(3) The prudence concept means that the lowest possible values should be applied to income and assets and thehighest possible values to expenses and liabilities.(4) The money measurement concept means that only assets capable of being reliably measured in monetary termscan be included in the balance sheet of a business.A 1 and 2B 2 and 3C 3 and 4D 1 and 4
16 Which of the following statements about accounting concepts and conventions are correct?
(1) The entity concept requires that a business is treated as being separate from its owners.
(2) The use of historical cost accounting tends to understate assets and profit when prices are rising.
(3) The prudence concept means that the lowest possible values should be applied to income and assets and the
highest possible values to expenses and liabilities.
(4) The money measurement concept means that only assets capable of being reliably measured in monetary terms
can be included in the balance sheet of a business.
A 1 and 2
B 2 and 3
C 3 and 4
D 1 and 4
相关考题：
The method of accounting for investments in equity securities in which the investor records its share of periodic net income of the investee is the ( ) A、cost methodB、market methodC、income methodD、equity method
15 Which of the following statements about intangible assets are correct?1 If certain criteria are met, research expenditure must be recognised as an intangible asset.2 Goodwill may not be revalued upwards.3 Internally generated goodwill should not be capitalised.A 2 and 3 onlyB 1 and 3 onlyC 1 and 2 onlyD All three statements are correct
18 Which of the following statements about accounting ratios and their interpretation are correct?1 A low-geared company is more able to survive a downturn in profit than a highly-geared company.2 If a company has a high price earnings ratio, this will often indicate that the market expects its profits to rise.3 All companies should try to achieve a current ratio (current assets/current liabilities) of 2:1.A 2 and 3 onlyB 1 and 3 onlyC 1 and 2 onlyD All three statements are correct
You are the administrator of a Windows 2000 network. You need to store secured files for your company's accounting and legal departments on a Windows 2000 Professional computer.You want to accomplish the following goals:1. Enable users in both departments to access their own files from the network2. Enable users in the accounting department to view the legal accounting department's documents3. Prevent users in the legal department from being able to view the accounting department's documents4. Enable managers within the company to access and modify both the accounting and the legal department's filesYou take the following actions:1. Create two shared folders named Accounting and Legal2. Create three groups named Accounting, Legal, and Management3. Allow the Accounting group modify permission on the Accounting folder4. Allow the Legal group modify permission on the Legal folders.5. Allow the Management group modify permission on both the Accounting and Legal folders.Which result or results do these actions produce? (Choose all that apply)A．Users in both departments can access to their own files from the network.B．Users in the accounting department can view the legal department's documents.C．Users in the legal department cannot view the accounting department's documents.D．Company managers can access and modify both departments' files.
(c) Wader is reviewing the accounting treatment of its buildings. The company uses the ‘revaluation model’ for itsbuildings. The buildings had originally cost $10 million on 1 June 2005 and had a useful economic life of20 years. They are being depreciated on a straight line basis to a nil residual value. The buildings were revalueddownwards on 31 May 2006 to $8 million which was the buildings’ recoverable amount. At 31 May 2007 thevalue of the buildings had risen to $11 million which is to be included in the financial statements. The companyis unsure how to treat the above events. (7 marks)Required:Discuss the accounting treatments of the above items in the financial statements for the year ended 31 May2007.Note: a discount rate of 5% should be used where necessary. Candidates should show suitable calculations wherenecessary.
5 Financial statements have seen an increasing move towards the use of fair values in accounting. Advocates of ‘fairvalue accounting’ believe that fair value is the most relevant measure for financial reporting whilst others believe thathistorical cost provides a more useful measure.Issues have been raised over the reliability and measurement of fair values, and over the nature of the current levelof disclosure in financial statements in this area.Required:(a) Discuss the problems associated with the reliability and measurement of fair values and the nature of anyadditional disclosures which may be required if fair value accounting is to be used exclusively in corporatereporting. (13 marks)
5 An enterprise has made a material change to an accounting policy in preparing its current financial statements.Which of the following disclosures are required by IAS 8 Accounting policies, changes in accounting estimatesand errors in these financial statements?1 The reasons for the change.2 The amount of the consequent adjustment in the current period and in comparative information for prior periods.3 An estimate of the effect of the change on future periods, where possible.A 1 and 2 onlyB 1 and 3 onlyC 2 and 3 onlyD All three items
19 Which of the following statements about intangible assets in company financial statements are correct accordingto international accounting standards?1 Internally generated goodwill should not be capitalised.2 Purchased goodwill should normally be amortised through the income statement.3 Development expenditure must be capitalised if certain conditions are met.A 1 and 3 onlyB 1 and 2 onlyC 2 and 3 onlyD All three statements are correct
22 Which of the following statements about limited liability companies’ accounting is/are correct?1 A revaluation reserve arises when a non-current asset is sold at a profit.2 The authorised share capital of a company is the maximum nominal value of shares and loan notes the companymay issue.3 The notes to the financial statements must contain details of all adjusting events as defined in IAS10 Events afterthe balance sheet date.A All three statementsB 1 and 2 onlyC 2 and 3 onlyD None of the statements
8 Which of the following statements about accounting concepts and conventions are correct?(1) The money measurement concept requires all assets and liabilities to be accounted for at historical cost.(2) The substance over form. convention means that the economic substance of a transaction should be reflected inthe financial statements, not necessarily its legal form.(3) The realisation concept means that profits or gains cannot normally be recognised in the income statement untilrealised.(4) The application of the prudence concept means that assets must be understated and liabilities must be overstatedin preparing financial statements.A 1 and 3B 2 and 3C 2 and 4D 1 and 4.
12 Which of the following statements are correct?(1) Contingent assets are included as assets in financial statements if it is probable that they will arise.(2) Contingent liabilities must be provided for in financial statements if it is probable that they will arise.(3) Details of all adjusting events after the balance sheet date must be given in notes to the financial statements.(4) Material non-adjusting events are disclosed by note in the financial statements.A 1 and 2B 2 and 4C 3 and 4D 1 and 3
2 (a) Explain the term ‘backflush accounting’ and the circumstances in which its use would be appropriate.(6 marks)
PURPOSE OF ACCOUNTING Every company has an accounting office or a finance department that looks ()its accounting details. An accounting department is the backbone(脊梁)of every business. It records all the business transactions(交易), and keeps a track(记录) of the incomes(收入) and expenses(支出)of the business. The accounting department also helps to determine the correct financial position and standing of the business. For a systematic(系统的)and ()recording of transactions, accounting is important. The purpose of accounting is recording all the transactions honestly and accurately in the “Books of Accounts(账本)”. The accounting process can be defined ()“the process that begins when the transaction takes place and ends ()the transaction is recorded in the books of accounts”. It includes a series of steps that ()to analyze(分析)and record the business transactions for a particular period.1.A. forB. afterC. up2.A. accurateB. simpleC. correct3.A. toB. atC. as4.A. whenB. whichC. what5.A. useB. is usedC. uses
For accounting purposes, the business entity should be considered separate from its owners if the entity is ( ). A.a proprietorshipB.a partnershipC.all of the aboveD.a corporation
Cost accounting analyzes a business's cost to help managers ______.A．expend moneyB．control expensesC．pay the debtsD．make budget
What is the stable-monetary-unit concept?A．It is the prime means of measuring assets.B．It is the common denominator in business transactions.C．It is an orderly basis for handling account balances to produce the financial statements.D．It is monetary terms in accounting information.
Managerial accounting is primarily concerned with the recording and reporting of economic data and activities of an entity for use by owners, creditors, governmental agencies, and the public.()
资料：Many people think of internal control as a means of safeguarding cash and preventing fraud. Although internal control is an important factor in protecting assets and preventing fraud, this is only a part of its roles. Remember that business decisions are based on accounting data and the system of internal control provides assurance of the dependability of the accounting data used in making decisions.The decisions made by management are communicated throughout the organization and become company policy. The results of the policies-----the consequences of managerial decisions----must be reported back to management so that the soundness of company policies can be evaluated. Among the means of communication included in the system of internal control are organization charts, manuals of accounting policies and procedures, flow charts, financial forecasts, purchase orders, receiving reports, invoices, and other documents. The term documentation refers to all the charts, forms, reports, and other business papers that guide and describe the working of a company's system of accounting and internal control.Internal controls fall into two major classes: administrative controls and accounting controls. Administrative controls are measures that increase operational efficiency and compliance with policies in all parts of organization. For example, an administrative control may be a requirement that traveling salespersons submit reports showing the number of calls made on customers each day. Another example is a directive require airline pilots to have regular medical examinations. These internal administrative controls have no direct bearing on the reliability of the financial statements. Consequently, administrative controls are not of direct interest on accountants and independent auditors.Internal accounting controls are measures that relate to protection of assets and to the reliability of accounting and financial reports. An example is the requirement that a person whose duties involve handling cash shall not also maintain accounting records. More broadly stated, the accounting function must be kept separate from the custody of assets. Another accounting control is the requirement that checks, purchase orders, and other documents be serially numbered. Still another example is the rule that a person who orders merchandise and supplies should not be the one to receive them and should not sign checks to pay for them. The results of managerial decisions must be reported back to managements so that （ ）can be evaluated?A.The means of communicationB.The level of performance in all divisions of the companyC.The effectiveness of company policiesD.The financial reports
资料：Many people think of internal control as a means of safeguarding cash and preventing fraud. Although internal control is an important factor in protecting assets and preventing fraud, this is only a part of its roles. Remember that business decisions are based on accounting data and the system of internal control provides assurance of the dependability of the accounting data used in making decisions.The decisions made by management are communicated throughout the organization and become company policy. The results of the policies-----the consequences of managerial decisions----must be reported back to management so that the soundness of company policies can be evaluated. Among the means of communication included in the system of internal control are organization charts, manuals of accounting policies and procedures, flow charts, financial forecasts, purchase orders, receiving reports, invoices, and other documents. The term documentation refers to all the charts, forms, reports, and other business papers that guide and describe the working of a company's system of accounting and internal control.Internal controls fall into two major classes: administrative controls and accounting controls. Administrative controls are measures that increase operational efficiency and compliance with policies in all parts of organization. For example, an administrative control may be a requirement that traveling salespersons submit reports showing the number of calls made on customers each day. Another example is a directive require airline pilots to have regular medical examinations. These internal administrative controls have no direct bearing on the reliability of the financial statements. Consequently, administrative controls are not of direct interest on accountants and independent auditors.Internal accounting controls are measures that relate to protection of assets and to the reliability of accounting and financial reports. An example is the requirement that a person whose duties involve handling cash shall not also maintain accounting records. More broadly stated, the accounting function must be kept separate from the custody of assets. Another accounting control is the requirement that checks, purchase orders, and other documents be serially numbered. Still another example is the rule that a person who orders merchandise and supplies should not be the one to receive them and should not sign checks to pay for them. Which one of the following is not the role of internal control？A.Preventing fraud.B.Providing help for making decisions.C.Improving the sense of responsibility of employees.D.Protecting assets.
资料：Many people think of internal control as a means of safeguarding cash and preventing fraud. Although internal control is an important factor in protecting assets and preventing fraud, this is only a part of its roles. Remember that business decisions are based on accounting data and the system of internal control provides assurance of the dependability of the accounting data used in making decisions.The decisions made by management are communicated throughout the organization and become company policy. The results of the policies-----the consequences of managerial decisions----must be reported back to management so that the soundness of company policies can be evaluated. Among the means of communication included in the system of internal control are organization charts, manuals of accounting policies and procedures, flow charts, financial forecasts, purchase orders, receiving reports, invoices, and other documents. The term documentation refers to all the charts, forms, reports, and other business papers that guide and describe the working of a company's system of accounting and internal control.Internal controls fall into two major classes: administrative controls and accounting controls. Administrative controls are measures that increase operational efficiency and compliance with policies in all parts of organization. For example, an administrative control may be a requirement that traveling salespersons submit reports showing the number of calls made on customers each day. Another example is a directive require airline pilots to have regular medical examinations. These internal administrative controls have no direct bearing on the reliability of the financial statements. Consequently, administrative controls are not of direct interest on accountants and independent auditors.Internal accounting controls are measures that relate to protection of assets and to the reliability of accounting and financial reports. An example is the requirement that a person whose duties involve handling cash shall not also maintain accounting records. More broadly stated, the accounting function must be kept separate from the custody of assets. Another accounting control is the requirement that checks, purchase orders, and other documents be serially numbered. Still another example is the rule that a person who orders merchandise and supplies should not be the one to receive them and should not sign checks to pay for them. Which of the following is an example of internal accounting controls?（ ）.A.person is required to keep the custody of asset as well as accounting records.B.person is required to order merchandise and supplies and to receive them as well.C.person is required to handle cash and another one to maintain accounting records.D.traveling salesperson is required to present reports showing the number of calls made on customers.
资料：Many people think of internal control as a means of safeguarding cash and preventing fraud. Although internal control is an important factor in protecting assets and preventing fraud, this is only a part of its roles. Remember that business decisions are based on accounting data and the system of internal control provides assurance of the dependability of the accounting data used in making decisions.The decisions made by management are communicated throughout the organization and become company policy. The results of the policies-----the consequences of managerial decisions----must be reported back to management so that the soundness of company policies can be evaluated. Among the means of communication included in the system of internal control are organization charts, manuals of accounting policies and procedures, flow charts, financial forecasts, purchase orders, receiving reports, invoices, and other documents. The term documentation refers to all the charts, forms, reports, and other business papers that guide and describe the working of a company's system of accounting and internal control.Internal controls fall into two major classes: administrative controls and accounting controls. Administrative controls are measures that increase operational efficiency and compliance with policies in all parts of organization. For example, an administrative control may be a requirement that traveling salespersons submit reports showing the number of calls made on customers each day. Another example is a directive require airline pilots to have regular medical examinations. These internal administrative controls have no direct bearing on the reliability of the financial statements. Consequently, administrative controls are not of direct interest on accountants and independent auditors.Internal accounting controls are measures that relate to protection of assets and to the reliability of accounting and financial reports. An example is the requirement that a person whose duties involve handling cash shall not also maintain accounting records. More broadly stated, the accounting function must be kept separate from the custody of assets. Another accounting control is the requirement that checks, purchase orders, and other documents be serially numbered. Still another example is the rule that a person who orders merchandise and supplies should not be the one to receive them and should not sign checks to pay for them. （ ）are not the means of communication included in the system of internal controls.A.Financial forecastsB.According rulesC.Manuals of accounting policies and proceduresD.Organization charts
Which of the following was NOT an effect of the change in business procedures？( ) A.An increase in credit sales. B.The use of courier services between cities. C.The adoption of simpler accounting procedures. D.The improvement of roads.
Which of the following are correct statements？（）A、EIGRP advertises the best routes to its neighborB、EIGRP uses "cost" to determine best pathC、EIGRP allows unequal cost load balancingD、OSPF requires neighbor adjacencies before updates are sentE、EIGRP advertises all routes to its neighborF、OSPF allows unequal cost load balancing
You are the administrator of a Windows 2000 network. You need to store secured files for your company’s Accounting and Legal departments on a Windows 2000 Professional computer. You want to accomplish the following goals： • Enable users in both departments to access their own files from the network • Enable users in the Accounting department to view the Legal department’s documents • Prevent users in the Legal department from being able to view the Accounting department’s documents • Enable managers within the company to access and modify both the Accounting and the Legal department’s files You take the following actions： • Create two shared folders named Accounting and Legal • Create three groups named Accounting， Legal， and Management • Allow the Accounting group Modify permission on the Accounting folder • Allow the Accounting group Read permissions on the Legal folders. • Allow the Management group Modify permission on both the Accounting and Legal folders. Which result or results do these actions produce？（）A、Users in both departments can access to their own files from the network.B、Users in the Accounting department can view the Legal department’s documents.C、Users in the Legal department cannot view the Accounting department’s documents.D、Company managers can access and modify both departments’ files.
多选题Which of the following are correct statements？（）AEIGRP advertises the best routes to its neighborBEIGRP uses cost to determine best pathCEIGRP allows unequal cost load balancingDOSPF requires neighbor adjacencies before updates are sentEEIGRP advertises all routes to its neighborFOSPF allows unequal cost load balancing
单选题The medical board, concerned by the drop in insurance payments and the failure of the accounting department to obtain the anticipated funds, resolved to pursue legal action against the insurance company.Aconcerned by the drop in insurance payments and the failure of the accounting department to obtainBconcerning the drop in payments by insurance and the failure of the accounting department to obtainCbecause of its concern for the dropping insurance payments and the accounting department’s failure at obtainingDin its concern that the drop in insurance payments and the failure of the accounting department to obtainEbeing concerned about the drop in insurance payments and the accounting department falling to obtain
单选题Which of the following statements about pump operations is NOT a correct statement?（）AIn order for a fluid to be pumped, a fluid must be made to flowBA substance must be cold in order for it to be pumpedCThe kinetic energy imparted by the pump can be used to force a liquid through a hydraulic systemDA pump must receive its energy from an external source